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British Land to exit mainland Europe amid economic woes

Posted on 15 May 2013 by Laxman  |  Email |Print

British Land is looking to exit its £255m retail property business in mainland Europe after their assets lost almost a fifth of their value on the back of the economic crisis in Spain and Portugal.
British Land said its mainland European properties, which account for 2.4pc of its £10.5bn portfolio, fell 17pc in value in the year to the end of March, hit by rental concessions and widening yields……………………………………Full Article: Source

German real estate funds in the Euro crisis: Solid returns in local markets

Posted on 15 May 2013 by Laxman  |  Email |Print

First quarter 2013 results for German institutional property funds and German retail property funds stood at 0.3% and 0.0% respectively. In both groups of funds, those vehicles invested in Germany substantially outperformed European-targeted funds.
Daniel Piazolo, Managing Director of IPD, said, “We now receive data at least quarterly for 152 German funds with a Net Asset Value of EUR 105 bn. We are therefore in a position to provide crucial insights into the performance of all real estate funds subject to German investment law”……………………………………Full Article: Source

European retail volumes reach EUR5bln in Q1

Posted on 14 May 2013 by Laxman  |  Email |Print

European retail real estate investment totalled €5.1 bn in the first quarter of 2013, up nearly 60% on the year-earlier period, according to Jones Lang LaSalle.
The growth was driven by shopping centre investment, which rose 85% year-on-year to almost €4 bn, demonstrating the ongoing demand for this type of product………………………………………..Full Article: Source

Spain home expropriation plans seen violating EU bailout

Posted on 14 May 2013 by Laxman  |  Email |Print

Spanish politicians trying to cushion the blows of austerity plan to seize foreclosed homes to house the needy, discouraging foreign investment and threatening to violate terms of the European bailout of the country’s banks.
The regional governments of Andalusia, with the most vacant properties in the country, and the tourist destination of the Canary Islands, are planning to expropriate foreclosed properties for as long as three years to house displaced families………………………………………..Full Article: Source

JLL: European logistics markets remain stable despite subdued Eurozone outlook

Posted on 09 May 2013 by Laxman  |  Email |Print

The Q1 2013 European logistics real estate take-up market continued to demonstrate steady performance, according to the latest analysis from Jones Lang LaSalle. Germany was once again the most active European market, whilst Spain was the only other market to demonstrate growth. Completions have fallen, but six million sq m of space under construction is the highest amount since 2008, demonstrating the confidence in the sector.
Occupier demand remained stable year-on-year in the first quarter of 2013 thanks to continued global supply chain realignment, largely based on a growing e-commerce sector. A total of 2.9 million m² of logistics units over 5,000 m² in size were taken-up in Q1 2013………………………………….Full Article: Source

Germany, Sweden and Finland best bets for investors - Aviva

Posted on 25 April 2013 by Laxman  |  Email |Print

Investors should look to Germany, Sweden and Finland to minimise risk and ensure stable returns, according to the latest Aviva Macro and Property Risk Ratings analysis.
The Aviva report claims that Germany has moved to become the least risky market in Europe for real estate investors from a macroeconomic perspective. The country has been aided by a fall in measures of financial risk………………………………………..Full Article: Source

JLL: Strong start to the year for European retail real estate investment activity

Posted on 24 April 2013 by Laxman  |  Email |Print

This was driven by growth in shopping center investment, which rose by 85% year-on-year to almost €4.0bn, demonstrating the on-going demand for this type of product.
The UK was the most liquid market, accounting for close to 40% of European retail investment activity. While this was due in part to a number of good quality centers coming onto the market, appetite for best secondary also improved as a combination of the continued lack of prime stock and competitive pricing began to push investors up the risk curve………………………………………..Full Article: Source

New EU mortgage rules aim to stop property bubbles

Posted on 24 April 2013 by Laxman  |  Email |Print

The European Parliament has agreed a common set of rules on mortgage lending aimed at avoiding the housing bubble that helped create the current financial crisis.
The new rules governing the €6.5 trillion mortgage market will tighten controls across the sector and make it easier for lenders to decide whether a borrower will be able to repay their debts or not………………………………………..Full Article: Source

UK leads jump in European retail investment

Posted on 24 April 2013 by Laxman  |  Email |Print

Retail real estate investment in Europe totaled €5.1 billion during the first quarter, a 60 percent increase from a year earlier, with the U.K. accounting for almost 40 percent of all activity, according to new data from Jones Lang LaSalle.
The activity was dominated by shopping center investment, a trend seen in other major global markets. In Europe, shopping center investment increased 85 percent from last year to almost €4.0 billion, JLL reports………………………………………..Full Article: Source

EU seeks to avoid housing bubbles with mortgage law deal

Posted on 22 April 2013 by Laxman  |  Email |Print

European Union negotiators are expected to finalize the bloc’s first common rules on mortgage lending on Monday, in an attempt to avoid a repeat of property bubbles that helped fuel the euro zone’s debt crisis.
The legislation will force lenders in Europe’s 6.5 trillion euro ($8.5 trillion) mortgage market to check the creditworthiness of potential customers and their ability to repay, effectively banning self-certified or “liar” loans………………………………………..Full Article: Source

Savills: Investment in France boosted by retail and serviced properties in Q1 2013

Posted on 19 April 2013 by Laxman  |  Email |Print

According to Savills data €2.5 billion was invested in French commercial real estate in the first quarter of 2013, which is level with the same period in 2012. The international real estate advisor notes that investment volumes in the retail and serviced property sectors (hotels, care homes) fared particularly well rising respectively by 119% and 85% compared with Q1 2012.
These two sectors significantly boosted the market in the first quarter of 2013 accounting for four of the seven deals of over €100 million. Furthermore, these market segments represented a significant portion of regional portfolio sales, with the acquisition of four health establishments by Icade Santé for €175 million and CNP Assurances’ purchase of a €160 million portfolio of regional retail assets………………………………………Full Article: Source

Russia, Poland drive CEE volumes in Q1

Posted on 19 April 2013 by Laxman  |  Email |Print

Russia and Poland accounted for the overwhelming majority of real estate investment in Central & Eastern Europe in the first three months of 2013.
Latest figures from CBRE show total commercial real estate investment in the region reached €2.6 bn in Q1. Russia dominated with €1.8 bn of deals, followed by Poland at €600 mln………………………………………Full Article: Source

German property funds outperform European and global investment vehicles

Posted on 18 April 2013 by Laxman  |  Email |Print

German property funds tracked by UK performance analysis group IPD outperformed global and Europe-focused property investment vehicles in the year to March 2013, returning 2.3 percent as against -1.0 percent for global and -0.3 percent for European property funds, IPD said in its monthly assessment of the sector. The report also showed that inflows surpassed outflows from liquidating property funds, indicating a return of investor confidence in Germany’s real estate market.
According to the IPD German Monthly Open Ended Funds Index OFIX, over the past year only German-allocated funds outperformed inflation, 1.4 percent in the 12 months to March, while European and global sub-indexes returned losses in both real and nominal terms…………………………………..Full Article: Source

Britain bucks trend as EU house prices fall

Posted on 12 April 2013 by Laxman  |  Email |Print

European house prices fell in the fourth quarter of 2012, but Britain bucked the trend as property values rose, official figures showed on Thursday. The 17-member Eurozone saw a 1.8pc annual decrease in house prices in the final three months of the year, while the 27-nation EU suffered a 1.4pc drop, according to figures from Eurostat, the EU’s statistical office.
Britain went against the trend showing a 2.3pc jump in property prices in the fourth quarter. However, the UK did see a small drop of 0.7pc between October and December, in line with the EU average. Compared with the third quarter of 2012, house prices in Q4 fell 0.5pc in the Eurozone and 0.7pc in the EU as a whole………………………………………..Full Article: Source

Housing market divided in both Europe and UK

Posted on 12 April 2013 by Laxman  |  Email |Print

The Capital’s housing market is booming again, leaving the rest of the UK far behind, data showed . And elsewhere in Europe, the continent is also witnessing a two-speed housing market, with prices growing in some countries yet continuing to sink in others.
Overall, prices in the final quarter of 2012 were down 1.8 per cent in the Eurozone and 1.4 per cent in the wider European Union area, compared to a year earlier, stats body Eurostat revealed. Yet prices are soaring in northern European countries such as Norway (up 8.9 per cent), Estonia (up 5.8 per cent) and Latvia (9.8 per cent)………………………………………..Full Article: Source

European commercial property at best value for 10 years

Posted on 11 April 2013 by Laxman  |  Email |Print

European commercial property pricing has reached its most attractive level for investment in almost 10 years, according to research from DTZ. DTZ’s Fair Value Index offers quarterly insight into the relative attractiveness of current pricing in European property markets by grading them with a score out of 100. The most recent figures show that in Q4 2012 the overall index score for Europe rose to 78 from 62 in the previous quarter – recording its highest score since September 2003.
Individual property markets across Europe are also ranked as HOT, WARM or COLD. Of 105 markets covered, 69 were rated as HOT and 25 as WARM – making them attractive to investors. Significantly, 33 markets were upgraded between Q3 and Q4, with 24 improving from WARM to HOT and nine moving from COLD to WARM………………………………………..Full Article: Source

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CBRE: Property investment in CEE achieves second highest Q1 result since 2007

Posted on 11 April 2013 by Laxman  |  Email |Print

Total commercial real estate investment volume in Central & Eastern Europe (CEE) reached €2.6 billion in the first quarter of 2013 (Q1 2013), three times the level achieved during Q1 2012 and the highest first quarter result since 2008, according to the latest research from global property advisor CBRE.
The most active markets were Russia (€1.8 billion) and Poland (€400 million), although the smaller economies within the CEE have also seen an increase. The largest transactions were in Moscow: Metropolis shopping centre was acquired for around €900 million by Morgan Stanley Real Estate Investing and AFI Development’s completion of its acquisition of the remaining 50% in Aquamarine BC III, a project close to the Kremlin………………………………………..Full Article: Source

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CEE property volumes hit five-year high in Q1: CBRE

Posted on 10 April 2013 by Laxman  |  Email |Print

Central and Eastern Europe, including Russia, has seen the highest first-quarter real estate investment volumes in five years, CBRE reported. The total investment volume for the region reached €2.6 bn for the first three months of 2013. This is three times the level achieved during Q1 2012 and the highest first-quarter result since 2008, CBRE said.
The most active markets were Russia (€1.8 bn) and Poland (€400 mln), although the smaller economies within the CEE region have also seen an increase………………………………………..Full Article: Source

What can be expected from European property investments in 2013

Posted on 10 April 2013 by Laxman  |  Email |Print

The Euro zone is currently undergoing a critical phase as several issues emerge with time. The persistent debt crisis in the continent, along with the war between currencies, and the recent signs in the economy, has signified the beginning of another recessional phase in many European countries, particularly those located around the Mediterranean Sea.
With unemployment and other factors threatening to further damage the economies in Europe, the real estate market is expected to suffer in 2013. However, real estate experts in many European markets believe that the sector may in fact perform well in the months to come………………………………………..Full Article: Source

Greece sells properties including London consul’s townhouse

Posted on 05 April 2013 by Laxman  |  Email |Print

Greece sold four properties outside the country, including the U.K. consul’s residence in London, as the government raises money to pay its debts.
The townhouse in London’s Holland Park neighborhood was sold for 23.3 million pounds ($35.2 million), the Hellenic Republic Asset Development Fund said in an e-mailed statement late yesterday. A property in Nicosia, Cyprus, fetched 8.3 million euros and real estate in Brussels and Belgrade was sold for a combined 5.3 million euros………………………………………..Full Article: Source

CEE region posts 5.6pct return in 2012: IPD

Posted on 04 April 2013 by Laxman  |  Email |Print

The IPD Central and Eastern European Annual Property Index delivered a positive total return on all property of 5.6% in 2012, albeit 2% lower than the total return for 2011.
In common with other European countries, income return was the key component of performance, returning 6.8% although somewhat below its long-term trend of 7.0%, while capital growth stood at -1.1% for 2012………………………………………..Full Article: Source

Investors target central European property

Posted on 03 April 2013 by Laxman  |  Email |Print

Investment activity in Central European commercial property reached €958 million in the first quarter of 2012, a six percent increase over the five year average, but down from €1.8 billion in the previous quarter, according to a new study.
The Czech market reported an upward trend with six closed transactions in the first quarter worth €237 million, compared to a mere €20 million during the same quarter in 2012, Cushman & Wakefield reports. Hungary also saw an uptick, posting €159 million in transactions in the first quarter………………………………………..Full Article: Source

IPD: CEE region generates a positive performance in 2012

Posted on 02 April 2013 by Laxman  |  Email |Print

The IPD Central and Eastern European Annual Property Index, released yesterday, delivered a positive total return on all property of 5.6% in 2012, albeit 2% lower than the total return for 2011.
In common with other European countries that IPD has reported on thus far for 2012, income return was the key component of performance, returning 6.8% although somewhat below its long-term trend of 7.0%, while capital growth stood at -1.1% for 2012………………………………………..Full Article: Source

Europe’s CMBS pipeline begins to flow

Posted on 28 March 2013 by Laxman  |  Email |Print

Unloved and tarnished – Europe’s crisis-hit market for assets backed by commercial mortgages is now only a fraction of its 2006 peak.
Only a handful of new borrowers have issued commercial mortgage-backed securities since the US subprime crisis and the picture in Europe painted by some bankers is of a product in terminal decline – penalised by regulators and hated by politicians………………………………………..Full Article: Source

What to expect from real estate investment in Europe for 2013

Posted on 27 March 2013 by Laxman  |  Email |Print

Europe is currently at a very critical moment with several issues warming up at the same time. Debt crisis is persistent in Europe along with which there is the currency war and recent symptoms signifying the advent of a recessional phase over a majority of European countries especially the Mediterranean nations.
With all this problems happening at the same time housing market sector in destined to go down in most European nations for 2013 and beyond. But in contrary to that belief European market experts are of the view that real estate in Europe may in fact do well in the coming months………………………………………..Full Article: Source

Europe: Investors readying to pick second-tier property

Posted on 22 March 2013 by Laxman  |  Email |Print

Cannes, France: Real estate investors are venturing out from the safety of the best buildings in Europe to gamble on edgier properties in a sign of risk-taking creeping back into the market as the Eurozone crisis recedes.
Buildings that are partially or fully vacant, with short periods left on the lease or in need of a revamp, are in demand when they weren’t 12 months ago. “We are interested in slightly compromised real estate,” said Charles Weeks, chief executive of Cornerstone Europe, which has $37.3 billion (Dh137.18 billion) under management worldwide………………………………………..Full Article: Source

PIMCO sees opportunity in European commercial property

Posted on 21 March 2013 by Laxman  |  Email |Print

The head of PIMCO’s mortgage credit portfolio management team said the firm is targeting direct commercial real estate investments and non-securitized loans, which carry greater risk but higher return potential.
Dan Ivascyn, who is also a managing director at Pacific Investment Management Co, which has $2 trillion under management, said the move by banks around the world to offload some of their debt has created opportunity to buy up unrated loans………………………………………..Full Article: Source

European property back on cross-border radar: Savills

Posted on 18 March 2013 by Laxman  |  Email |Print

Europe is back on the radar of global cross-border investors and these buyers are set to be key drivers of the market in 2013, according to the latest European investment bulletin published by Savills.
The international real estate adviser noted that overseas purchasers have increased their presence predominantly in the UK (from 35% to 46% between 2011 and 2012), Germany (35% to 47%), Poland (90% to 96%) and France (42% to 45%), although there is a rise in appetite for the whole of Europe. ……………………………………….Full Article: Source

Popularity of logistics rises in Europe: CBRE

Posted on 14 March 2013 by Laxman  |  Email |Print

Investors are increasingly warming to the logistics sector as sentiment cools on the retail property sector, according to CBRE’s Investor Intentions report published at MIPIM on Wednesday.
The 2013 survey revealed notable shifts in investor preferences between different sectors of the real estate market. As in 2012, offices were the single most preferred sector for purchases, chosen by 29% of investors………………………………….Full Article: Source

Sweden is Europe’s most liquid commercial property market

Posted on 14 March 2013 by Laxman  |  Email |Print

New research from DTZ shows Sweden regained its position as the most liquid1 European commercial property market in 2012 with turnover at 9% of its invested stock. Norway (8%) and the UK (6%) were ranked second and third most liquid markets in Europe in 2012 respectively.
They were followed by Poland (6%) and Germany (5%). Despite having the second-largest invested stock in Europe, France was only ranked as the 10th most liquid market………………………………….Full Article: Source

Nordic countries emerge as Europe’s property safe havens

Posted on 14 March 2013 by Laxman  |  Email |Print

Sweden has outstripped the UK as Europe’s most liquid real estate market as it emerges as a ’safe haven’ for European investors despite being only the eighth largest investment market with €108bn, according to DTZ.
Although the UK – more specifically, central London – remains the most attractive market for cross-border investors, it came in overall with 6% turnover compared with Sweden’s 9.2%………………………………….Full Article: Source

U.S. beats Europe and Asia as growing property investment target

Posted on 13 March 2013 by Laxman  |  Email |Print

Investors increased the amount of equity they plan to commit to U.S. real estate by 19 percent to $55 billion in the second half of last year, more than any other region, according to London-based broker DTZ.
Money excluding debt intended for the Asia Pacific region rose by 15 percent to $40 billion and planned equity investment in Europe grew by 6 percent to $62 billion in the six months through December, DTZ, a unit of Sydney-based UGL Ltd. (UGL), said……………………………………….Full Article: Source

European commercial property at best value for last 10 years

Posted on 13 March 2013 by Laxman  |  Email |Print

European commercial property pricing has reached its most attractive level for investment in almost 10 years, according to research by property advisers DTZ. The company’s latest Fair Value Index released today looks at the current pricing in European property markets and grades them with a score out of 100.
The most recent figures show that the overall index score for Europe rose to 78 in the fourth quarter of last year, from 62 in the third quarter – Europe’s highest score since September 2003………………………………………..Full Article: Source

Fund returns weaken in 2012: IPD

Posted on 13 March 2013 by Laxman  |  Email |Print

Pan-European property funds posted a negative return of 2% over the final quarter of 2012 as the eurozone crisis continued to take its toll, IPD said. The negative quarterly performance was the third in a row as returns continued to be dragged down by value declines in the direct real estate market as a result of the eurozone crisis.
The IPD index is based on the full universe of pan-European open-ended funds that are appraised quarterly according to IFRS standards………………………………………..Full Article: Source

Sweden once more most liquid property market in Europe - DTZ

Posted on 13 March 2013 by Laxman  |  Email |Print

Latest research from DTZ shows Sweden has regained its position as the most liquid European commercial property market, with turnover at about 9% of its invested stock. DTZ measures liquidity by dividing a country’s invested stock by investment volumes in any given year.
According to that measure Norway (7.6%), the UK (6.4%), Poland (5.7%) and Germany (5.2%) where the next most liquid markets respectively in 2012, according to DTZ’s figures………………………………………..Full Article: Source

Europe’s super-prime, residential and leisure property markets

Posted on 12 March 2013 by Laxman  |  Email |Print

For years, the super-prime property market has appeared to defy gravity. In some places, such as central London, the boom continues almost unabated, while elsewhere, notably in Paris, there are signs that political activity can slow the rise.
According to the latest figures from Christie’s International Real Estate, for properties over $1 million, London costs more per square foot ($4,849) than any other city in the world. It is not simply a matter of scarcity, either; with 7,741 properties over $1 million listed at the end of September 2012 it has more inventory than any other luxury location. Only the Côte d’Azur comes close to that number. It is around twice the figure for New York, Paris or Hong Kong………………………………………..Full Article: Source

European commercial property at best value for 10 years - DTZ

Posted on 12 March 2013 by Laxman  |  Email |Print

European commercial property pricing has reached its most attractive level in almost 10 years, according to research from DTZ, a UGL company. DTZ’s Fair Value Index offers quarterly insight into the relative attractiveness of current pricing in European property markets by grading them with a score out of 100.
The most recent figures show that in Q4 2012 the overall index score for Europe rose to 78 from 62 in the previous quarter - recording its highest score since September 2003………………………………………..Full Article: Source

Investor appetite returns to the property market across Europe

Posted on 08 March 2013 by Laxman  |  Email |Print

The European property sector is seeing a rebound in investor sentiment, with both the levels of activity and risk on the rise, property advisory firm CBRE reported. In a survey released ahead of next week’s MIPIM property conference in France, CBRE said 58 per cent of 362 investors questioned said they expected to buy more this year than last. This compares with 45 per cent giving the same answer last year.
Within this, a third of investors expect to be spending over 20 per cent more on investment deals in 2013 than they did in 2012………………………………………..Full Article: Source

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Developers cash in on Europe’s poorest

Posted on 08 March 2013 by Laxman  |  Email |Print

International financial investors have spent billions to gobble up cheap real estate in Berlin. But a look at Scharnweberstrasse 111 shows how they and their ruthless middlemen are exploiting immigrants from Southeastern Europe to make profits.
Their offices are in places where a lot of money is turned into even more money: in Luxembourg, the City of London and on Lake Geneva. They deal in shares of companies in Asia and Africa, and in real estate in Europe. They own more than 6,000 apartments in Berlin. Narghita lives in one of them………………………………………..Full Article: Source

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European hotel transaction activity down but more properties are coming to the market

Posted on 06 March 2013 by Laxman  |  Email |Print

According to HVS, the UK’s hotels market saw the most transaction activity during 2012 with a total volume of €1.4 billion, accounting for 38% of hotel volume in Europe. European hotel transaction volume reached a total of approximately €5.6 billion in 2012, a decrease of 21% on the €7.1 billion recorded in 2011 highlighting the fact that investors in Europe’s hotel market are still being cautious over purchases.
The latest 2012 European Hotel Transactions report, published annually by HVS London, notes that activity during 2012 involved some 101 transactions (of more than €7.5 million per property) with 301 hotels and more than 39,000 rooms. Although total volume was above the 2009 trough of €2 billion, it remains below the 10 year average of €9.5 billion since 2002………………………………………..Full Article: Source

Cross-border investors drive Europe property market

Posted on 04 March 2013 by Laxman  |  Email |Print

European commercial real estate investment turnover reached 44.8 billion euros ($58.3 billion) in the fourth quarter (Q4) of 2012, an increase of 53 per cent on Q3 2012 and 25 per cent on Q4 2011, according to real estate services firm CBRE.
The increase in investment activity was largely driven by a significant rise in cross-border investment. Cross-border investors accounted for 46 per cent of the total in Q4 2012, up from 36 per cent in Q3 2012 (and 38 per cent in Q4 2011). This increase also goes a long way towards explaining the growth in average transaction size in Q4 2012………………………………………..Full Article: Source

UAE investors splash cash on European property - report

Posted on 04 March 2013 by Laxman  |  Email |Print

UAE investors bought almost €1bn (US$1.3bn) worth of commercial property in Europe during the second half of last year, according to international real estate advisor CBRE. The investment accounted for 3 percent of the cross-border commercial property purchases across the continent during the six months.
Buyers from across the Middle Eastern, particularly sovereign wealth funds, accounted for a significant amount of the investment that flowed into the European market last year, CBRE said………………………………………..Full Article: Source

CBRE: European offices outperform retail in Q4 2012

Posted on 28 February 2013 by Laxman  |  Email |Print

Office properties were Europe’s best performing commercial real estate sector in Q4 2012, according to CBRE’s latest European Valuation Monitor, which measures capital value movements based on the company’s ongoing valuation of investment portfolios across the region.
Office properties were Europe’s best performing commercial real estate sector in Q4 2012, according to CBRE’s latest European Valuation Monitor, which measures capital value movements based on the company’s ongoing valuation of investment portfolios across the region………………………………………..Full Article: Source

Danish property market follows European trend

Posted on 27 February 2013 by Laxman  |  Email |Print

The IPD Denmark Annual Property Index showed that Danish property delivered a total return of 3.8% in 2012. This is a slight decrease of 1.0 percentage points compared with 2011, and is 4.6 percentage points lower than the 13-year historical annualised total return of 8.4%pa, which IPD has reported on since 2000.
Property underperformed slightly against bonds at 5.6% (JP Morgan 7-10 Year Danish Government Bond Index), but significantly against equities at 30% (MSCI Denmark Equities) in 2012………………………………………..Full Article: Source

U.S. banks targeting Europe commercial property

Posted on 26 February 2013 by Laxman  |  Email |Print

U.S. banks are looking to capitalize on a dearth of financing for Europe’s commercial property market that’s driven lending margins to five times the level prior to the 2008 crisis.
Citigroup Inc., Morgan Stanley, Bank of America Corp. and Wells Fargo & Co. are following insurers and distressed investors allocating capital to the region as local banks, which overextended during the last boom, are forced to contract amid new regulations. Europe faces an $82 billion shortfall between the amount of real-estate debt maturing through this year and the funding available to replace it, according to real-estate broker DTZ………………………………………..Full Article: Source

European construction output continues to fall

Posted on 21 February 2013 by Laxman  |  Email |Print

Construction output fell by 1.7% in December in the Eurozone countries and by 2.7% across all 27 countries of the EU compared with November. The figures are first estimates released by Eurostat, the statistical office of the European Union. In November 2012, monthly production had decreased by 0.4% and 0.6% respectively.
Compared with December 2011, production in December 2012 dropped by 4.8% in the 17 countries of the Euro area and by 8.5% in the EU27. Compared with 2011, the average production index for 2012 decreased by 5.4% in the euro area and by 5.8% in the EU27……………………………………Full Article: Source

Europe’s landlords to see rents drop as online retail thrives: AXA

Posted on 19 February 2013 by Laxman  |  Email |Print

European shop landlords will have to accept lower rents in coming years to help besieged retailers cope with the rise of online shopping and weak consumer spending, French insurer AXA’s property arm said on Monday.
Property owners in Spain are under most pressure, AXA Real Estate, Europe’s largest real estate fund manager, said in a report called “Retail will never be the same again”…………………………………….Full Article: Source

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European shopping centres get confidence boost

Posted on 11 February 2013 by Laxman  |  Email |Print

The European shopping-centre industry has benefitied from rising confidence since the start of 2013, according to the International Council of Shopping Centers (ICSC). Despite January’s unfavourable weather and rising unemployment in many markets across Europe, and ongoing pressure on disposable incomes, current business conditions were judged significantly better than a year ago and improving month-on-month.
This was one of the main findings of the ICSC’s Euro-shop Index, its pan-European survey of shopping centre industry business conditions………………………………………..Full Article: Source

Real estate sales kick off in Europe

Posted on 08 February 2013 by Laxman  |  Email |Print

Banks are fearful that the Eurozone will collapse – hence, they are selling out their real estate. Morgan Stanley says that credit organizations have accumulated real estate to the tune of 600 billion euros.
The main buyers of these accounts are big investment funds and private persons. These investors are sure that cheap European real estate will be able to ensure high profitability in the future………………………………………..Full Article: Source

European resi too fragmented to attract institutional investors

Posted on 08 February 2013 by Laxman  |  Email |Print

Despite growing demand for residential properties in Europe, the market is currently too fragmented to become a major institutional asset class in the near future. That was one of the key conclusions of a panel discussion on residential investment during the ULI Europe annual conference in Paris this week.
‘Europe offers significant investment opportunities,’ noted Michael Ball, professor of Urban & Property Economics, Henley Business School. ‘Demand is expanding and many European cities face long-term acute housing shortages. But I don’t see a pan-European market developing across markets taking advantage of opportunities for scale.’……………………………………….Full Article: Source

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